CBDT Issues Clarification On Taxability Of Income Earned From Off-Shore Investments In Investment Fund Routed Through An AIF

The Central Board of Direct Taxes (CBDT) issued a clarification on the taxability of income earned by a non-resident investor from outside India (off-shore investment) routed through an investment fund.The Circular was made applicable to Category I or Category II Alternative Investment Funds (AIFs) regulated under Securities and Exchange Board of India (SEBI) regulations.By the Finance Act,...